SUPPORTERS are split over plans by a new Coventry City fans group to buy a stake in the club, or even own it outright.

Message boards and social networking sites have seen lively debate about the ambitious plans from the newly re-formed Sky Blue Trust since the story appeared in the Telegraph last week.

The trust says it is exploring the idea of fans pledging money to buy a share of their club if City is forced to the brink of extinction. They point to similar schemes at Swansea City, Blackburn Rovers and Portsmouth.

While many have welcomed the idea of the Sky Blues being at least part-owned by the fans – others have labelled it “stupid” and insist the numbers simply do not add up.

The trust has pointed to the example of Blackburn, where fans are pledging £1,000 each. Its website guarantees certain financial safeguards and allows any fan wanting to buy in to pay in instalments.

Commenting on the Telegraph story, CharlieBoy , said: “These people are living in cloud cuckoo land.

“Their ideas are no more than a fantasy if they think they can get fans to part with enough money to buy a significant part of the club.

“I’ve supported City for 50 years through thin and thinner but the way the club is at present I wouldn’t put up £10 – let alone £1,000.”

City’s hedge-fund owner Sisu had already stated its intention to look at fans owning a stake in the club.

BobSkyBlue posted: “Let’s give these guys our full support, it’s not a fantasy. Look at what a bunch of Swansea fans did in 2001. They saved their beloved club at its darkest hour and now own 20 per cent.”

It comes after the club’s bid to buy half of the Ricoh Arena owned by the Alan Higgs Trust was rejected – prompting renewed fears of imminent administration or liquidation.

SkyBluePM said: “This ‘new and improved’ Sky Blue Trust is a total waste of time. All it will be is a propaganda coup for SISU.

“Utter, utter madness.”

But Gary CCFC Forever , a member of the trust, hit back: “We want to be in a position to rescue the club should the worst happen. It’s only at this point that we would be looking to work with an administrator to ensure the club’s survival.

“Coventry fans are very defeatist and think it’s just pie in the sky. Well Swansea did it, Pompey are doing it and so are Blackburn.

“Why couldn’t we do it with the right people to help along the way?

“We can either fight for our club or watch it disappear.”

The trust is inviting fans to its AGM at The Squirrel pub, Greyfriars Lane, on July 10 at 7.30pm.